Poseidon Nickel – A mining company that was thought to have made a great discovery of nickel whilst the price of nickel was going up at the time. By the time they got it out of the ground, the price had gone down and they discovered it was a lower grade than anticipated….parallel to APT?
Pacific Dunlop – Started off as a rubber/tyre manufacture and then went silly on acquisitions and bought Peters Ice Cream, Birdseye and other failing enterprises, only to fail to profitise them and then sold them off in a downward spiral….parallel to APT?
Adelaide Steamship – A very successful transport business with a great history of over 100 years, then under new leadership, it started to acquire many businesses and borrow up big to acquire more and more. Recession in 1990 was fatal….parallel to APT?
Bell and Bond both closely related, Bond and Holmes a Court....dodgy characters.
The recurring theme that I take away from much of the above is, when you are on a good thing, stick to it. Many companies got blinded by the promise of expanding their business outside of the core business that they started and that was a part of their undoing.
I agree with you here Pigs and if we see AfterPay start to deviate from their core business, it may well be a warning sign, but in the meantime they continue to execute on their published business plan and execute well.
